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Last Updated: April 2, 2026, 3:24 am
Author: Getaka|Social: XLinkedIn

Nitiraj Engineers Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹2.79Overvalued by 98.68%vs CMP ₹212.00

P/E (15.0) × ROE (0.4%) × BV (₹65.90) × DY (0.71%)

Defaults: P/E=15

₹39.74Overvalued by 81.25%vs CMP ₹212.00
MoS: -433.5% (Negative)Confidence: 58/100 (Moderate)Models: All 5: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1.8934%Over (-99.1%)
Net Asset ValueAssets₹65.7220%Over (-69%)
EV/EBITDAEnterprise₹52.6717%Over (-75.2%)
ROCE CapitalReturns₹73.5414%Over (-65.3%)
Revenue MultipleRevenue₹44.8115%Over (-78.9%)
Consensus (5 models)₹39.74100%Overvalued
Key Drivers: EPS CAGR -32.4% drags value — could be higher if earnings stabilize. | ROE 0.4% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -32.4% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

45
Nitiraj Engineers Ltd scores 45/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health50/100 · Moderate
ROCE 0.4% WeakROE 0.4% WeakD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 69.1% Stable
Earnings Quality30/100 · Weak
OPM contracting (11% → 6%) DecliningWorking capital: 182 days Capital intensive
Quarterly Momentum70/100 · Strong
Revenue (4Q): +16% YoY GrowingOPM: 8.4% (up 10.9% YoY) Margin expansion
Industry Rank20/100 · Weak
ROCE 0.4% vs industry 11.2% Below peersROE 0.4% vs industry 15.6% Below peers3Y sales CAGR: -1% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:24 am

Market Cap 218 Cr.
Current Price 212
Intrinsic Value₹39.74
High / Low 290/170
Stock P/E
Book Value 65.9
Dividend Yield0.71 %
ROCE0.38 %
ROE0.35 %
Face Value 10.0
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Nitiraj Engineers Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Nitiraj Engineers Ltd 218 Cr. 212 290/170 65.90.71 %0.38 %0.35 % 10.0
BCC Fuba India Ltd 231 Cr. 116 191/80.747.1 13.00.00 %18.7 %17.4 % 10.0
Cosmo Ferrites Ltd 124 Cr. 103 335/90.0 20.10.00 %0.74 %20.5 % 10.0
MIC Electronics Ltd 758 Cr. 31.5 83.0/30.081.6 9.480.00 %8.71 %5.57 % 2.00
Cyient DLM Ltd 2,261 Cr. 285 541/26533.4 1230.00 %12.3 %8.23 % 10.0
Industry Average3,369.78 Cr1,197.2657.90160.650.20%11.17%15.55%7.92

All Competitor Stocks of Nitiraj Engineers Ltd

Quarterly Result

MetricDec 2019Mar 2020Jun 2020Sep 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023
Sales 26.0021.877.0711.6415.194.998.7812.2713.597.5015.8511.3611.37
Expenses 23.7520.526.7710.0713.574.688.1111.3113.936.9015.0410.2810.42
Operating Profit 2.251.350.301.571.620.310.670.96-0.340.600.811.080.95
OPM % 8.65%6.17%4.24%13.49%10.66%6.21%7.63%7.82%-2.50%8.00%5.11%9.51%8.36%
Other Income 0.051.830.080.050.140.060.180.06-2.900.030.080.070.36
Interest 0.180.270.150.040.040.080.140.130.150.140.070.080.04
Depreciation 0.560.860.750.770.790.720.750.780.880.890.910.920.96
Profit before tax 1.562.05-0.520.810.93-0.43-0.040.11-4.27-0.40-0.090.150.31
Tax % 25.00%31.22%0.00%14.81%30.11%-2.33%125.00%36.36%-27.40%-25.00%211.11%-133.33%96.77%
Net Profit 1.141.27-0.520.690.66-0.41-0.090.08-3.11-0.30-0.280.360.00
EPS in Rs 1.111.24-0.510.670.64-0.40-0.090.08-3.03-0.29-0.270.350.00

Last Updated: February 28, 2025, 6:07 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: August 23, 2025, 2:22 pm

MetricMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Sales 61.0667.8139.4453.8847.8653.4039.6346.08
Expenses 52.4859.8635.6945.2244.4345.3838.0042.59
Operating Profit 8.587.953.758.663.438.021.633.49
OPM % 14.05%11.72%9.51%16.07%7.17%15.02%4.11%7.57%
Other Income 0.150.312.261.141.880.23-2.620.47
Interest 0.740.510.050.110.450.280.500.32
Depreciation 0.950.901.751.261.423.093.133.68
Profit before tax 7.046.854.218.433.444.88-4.62-0.04
Tax % 23.86%32.85%27.79%28.71%29.65%27.25%-23.81%475.00%
Net Profit 5.364.603.046.022.413.54-3.53-0.23
EPS in Rs 7.154.472.955.842.353.45-3.44-0.22
Dividend Payout % 0.00%3.92%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)-14.18%-33.91%98.03%-59.97%46.89%-199.72%93.48%
Change in YoY Net Profit Growth (%)0.00%-19.73%131.94%-157.99%106.85%-246.61%293.20%

Nitiraj Engineers Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 7 years from 2016-2017 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:%
5 Years:3%
3 Years:-1%
TTM:16%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:49%
Stock Price CAGR
10 Years:%
5 Years:26%
3 Years:33%
1 Year:-21%
Return on Equity
10 Years:%
5 Years:3%
3 Years:1%
Last Year:0%

Last Updated: September 5, 2025, 11:45 am

Balance Sheet

Last Updated: Unknown

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Equity Capital 6.008.208.208.2010.2510.2510.2510.25
Reserves 25.6349.4252.5858.6058.9661.0457.4557.33
Borrowings 7.190.000.000.005.350.623.973.20
Other Liabilities 6.337.553.285.993.897.255.569.04
Total Liabilities 45.1565.1764.0672.7978.4579.1677.2379.82
Fixed Assets 8.7310.8012.5026.8037.5328.1036.3133.60
CWIP 0.000.000.000.000.0011.151.601.60
Investments 1.0122.0124.661.931.752.041.941.49
Other Assets 35.4132.3626.9044.0639.1737.8737.3843.13
Total Assets 45.1565.1764.0672.7978.4579.1677.2379.82

Reserves and Borrowings Chart

Cash Flow

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity + -4.29-4.96-2.8415.869.901.541.450.71
Cash from Investing Activity + -0.80-2.97-3.33-15.61-10.90-4.01-5.690.50
Cash from Financing Activity + 5.1714.820.00-0.064.62-0.462.96-1.19
Net Cash Flow 0.076.90-6.170.193.62-2.93-1.280.02
Free Cash Flow -5.09-7.59-5.131.510.42-2.47-3.46-0.12
CFO/OP -50%-62%-76%183%289%26%156%20%

Free Cash Flow

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow1.397.953.758.66-1.927.40-2.340.29

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days 62.2329.1738.78104.1974.1360.3575.9851.64
Inventory Days 264.20158.45223.01239.67198.70175.08260.16340.96
Days Payable 84.29104.6653.9579.6248.3129.5616.6638.34
Cash Conversion Cycle 242.1382.96207.83264.25224.51205.87319.49354.26
Working Capital Days 100.5553.77144.65188.12118.90170.61206.12182.34
ROCE %15.26%4.86%12.70%4.20%7.05%-1.48%0.38%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 69.07%69.07%69.07%69.07%69.07%69.07%69.07%69.07%69.07%69.07%69.07%69.07%
FIIs 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.05%0.00%0.00%0.00%
Public 30.93%30.93%30.93%30.93%30.93%30.93%30.93%30.93%30.88%30.93%30.93%30.93%
No. of Shareholders 1,6411,6471,4301,7871,9612,0622,8433,4284,5714,3564,2584,013

Shareholding Pattern Chart

No. of Shareholders

Nitiraj Engineers Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) -0.22-3.443.452.357.34
Diluted EPS (Rs.) -0.22-3.443.452.357.34
Cash EPS (Rs.) 3.41-0.216.363.918.93
Book Value[Excl.RevalReserv]/Share (Rs.) 65.9266.0470.9767.5281.46
Book Value[Incl.RevalReserv]/Share (Rs.) 65.9266.0470.9767.5281.46
Revenue From Operations / Share (Rs.) 44.9538.6652.5046.6965.70
PBDIT / Share (Rs.) 3.912.317.835.3412.01
PBIT / Share (Rs.) 0.31-0.745.013.9610.48
PBT / Share (Rs.) 0.01-4.344.803.5210.34
Net Profit / Share (Rs.) -0.17-3.273.552.527.40
NP After MI And SOA / Share (Rs.) -0.22-3.443.452.357.34
PBDIT Margin (%) 8.695.9714.9111.4418.27
PBIT Margin (%) 0.71-1.939.558.4715.94
PBT Margin (%) 0.01-11.249.147.5415.73
Net Profit Margin (%) -0.39-8.476.755.4011.26
NP After MI And SOA Margin (%) -0.49-8.906.575.0311.16
Return on Networth / Equity (%) -0.34-5.214.863.489.00
Return on Capital Employeed (%) 0.47-1.117.035.8212.82
Return On Assets (%) -0.28-4.564.503.078.26
Total Debt / Equity (X) 0.040.050.000.070.00
Asset Turnover Ratio (%) 0.580.500.680.630.78
Current Ratio (X) 3.163.704.683.366.06
Quick Ratio (X) 1.111.932.151.753.05
Inventory Turnover Ratio (X) 1.451.432.011.421.99
Interest Coverage Ratio (X) 12.574.7836.2412.2789.26
Interest Coverage Ratio (Post Tax) (X) 0.430.6717.426.7955.99
Enterprise Value (Cr.) 74.7677.6346.6956.9736.13
EV / Net Operating Revenue (X) 1.621.960.861.190.67
EV / EBITDA (X) 18.6532.795.8210.403.67
MarketCap / Net Operating Revenue (X) 1.581.890.911.190.70
Price / BV (X) 1.071.100.670.820.56
Price / Net Operating Revenue (X) 1.581.890.911.190.70
EarningsYield 0.00-0.040.070.040.15

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Nitiraj Engineers Ltd. is a Public Limited Listed company incorporated on 01/04/1999 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L31909MH1999PLC119231 and registration number is 119231. Currently Company is involved in the business activities of Manufacturing. Company's Total Operating Revenue is Rs. 76.52 Cr. and Equity Capital is Rs. 10.25 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Electronics - Equipment/Components306 A Babha Building, Mumbai Maharashtra 400011Contact not found
Management
NamePosition Held
Mr. Rajesh Raghunath BhatwalChairman & Managing Director
Mrs. Shakuntala Rajesh BhatwalWhole Time Director
Mr. Yi Hung SinWhole Time Director
Mr. Gajendra Sharadchandra DeshmukhWhole Time Director
Mr. Deepam Pradeep ShahInd. Non-Executive Director
Mr. Pranit Anil BangadInd. Non-Executive Director
Mr. Pradeep Chandrakant ShahInd. Non-Executive Director
Mr. Anil Nandkishor BangadInd. Non-Executive Director

FAQ

What is the intrinsic value of Nitiraj Engineers Ltd and is it undervalued?

As of 10 April 2026, Nitiraj Engineers Ltd's intrinsic value is ₹39.74, which is 81.25% lower than the current market price of ₹212.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (0.35 %), book value (₹65.9), dividend yield (0.71 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Nitiraj Engineers Ltd?

Nitiraj Engineers Ltd is trading at ₹212.00 as of 10 April 2026, with a FY2026-2027 high of ₹290 and low of ₹170. The stock is currently in the middle of its 52-week range. Market cap stands at ₹218 Cr..

How does Nitiraj Engineers Ltd's P/E ratio compare to its industry?

Nitiraj Engineers Ltd has a P/E ratio of , which is below the industry average of 57.90. This is broadly in line with or below the industry average.

Is Nitiraj Engineers Ltd financially healthy?

Key indicators for Nitiraj Engineers Ltd: ROCE of 0.38 % is on the lower side compared to the industry average of 11.17%; ROE of 0.35 % is below ideal levels (industry average: 15.55%). Dividend yield is 0.71 %.

Is Nitiraj Engineers Ltd profitable and how is the profit trend?

Nitiraj Engineers Ltd reported a net profit of ₹0 Cr in Mar 2023 on revenue of ₹46 Cr. Compared to ₹2 Cr in Mar 2020, the net profit shows a declining trend.

Does Nitiraj Engineers Ltd pay dividends?

Nitiraj Engineers Ltd has a dividend yield of 0.71 % at the current price of ₹212.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Nitiraj Engineers Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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